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Tolling Agreement Singapore

During the sale process, ExxonMobil indicated that a “hot transition” was preferable to the facility, as it would minimize operating costs and costs associated with dismantling and restarting the facility. To facilitate the sale of a live facility, the beneficiaries have entered into various agreements with ExxonMobil, BP and Glencore for a “hot transition” from the plant to ExxonMobil. These agreements included the “transitional agreement” and the “interim agreement” and envisaged the sale of the schedule, which is scheduled to take place on August 28, 2017 or around August 28, 2017 (“Completion”). The Tribunal, while acknowledging that a fair lateness obligation is not excluded by the statutory provisions relating to the obligation of insolvency, found that there was no evidence of a fair transfer amount due to the absence of a close link between cross-receivables (i.e. the debt of raw materials, on the one hand, the toll debt, the amount of the final payment and the amount of the final payment). , on the other hand. There was also a sale between JAC and BNP Paribas, during which the receivables to be paid to JAC under Glencore`s commodity supply agreement and the product purchase agreement (including agreements) were awarded to senior Lenders. The construction of this $2.4 billion plant was financed, among other things, by various senior loan facilities provided by JAC`s priority lenders (“Senior Lenders”). Senior Lenders received from JAC a comprehensive set of security measures to secure their loans through a bond dated April 30, 2011 (“bond”), concluded between JAC and BNP Paribas Singapore Branch (for and on behalf of senior Lenders). Senior Lenders have taken guarantees in the form, among other things, of a first fixed charge on all JAC assets, including current and future accounting liabilities, and (ii) a first variable charge for all current and future JAC assets (together “taxed assets”). On April 28, 2011, a contract was also signed between JAC and Agent Assignment, which, among other things, transferred debts to JAC under Glencore FSA and Glencore POA to Senior Lenders.


Deepak Kamboj

Deepak Kamboj is a Solution Architect and Technology Enthusiast, located at Redmond, WA, having 14+ years of hands on experience in the IT industry.

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